Whether arising from data theft, interference with service, disclosure of private customer/subscriber information or otherwise, cyber liability is now a critical concern. Direct losses, and liability and defense costs if third-party information is disclosed, can be tremendous. It is imperative to be properly insured against these events.
Exclusions to the standard commercial general liability policy (a policy held by almost every business) have almost eliminated cyber liability coverage under pre-2014 policies. The 2014 form CGL policy will completely exclude such coverage, requiring insureds to purchase new policies specifically targeted to cyber liability.
This presentation discussed coverage issues related to cyber liability, current coverages available, and how best to use available coverage to protect your business.